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Shiprocket currently in talks to raise $20-22 million from March Capital, Tribe and others

Saransh Pandey

Intern
  • January 01, 2021
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    The company last announced a $13-million fundraise in May from Tribe Capital in a Series C round that had led to Shiprocket's international foray.

Shiprocket a Delhi-based logistics aggregator is currently in advance talks to raise $20-22 million in its fourth round of funding led by Santa Monica-based technology investment firm March Capital, according to the reports. Silicon Valley-based Tribe Capital which is its existing investors is also expected to participate in the Series D round. 

While $7.5 million will come as a primary investment, the rest of the money will be secondary, allowing some of the old investors to exit the company, according to reports. If everything goes according to plan, the deal should close in the next couple of weeks. 

The company last announced a $13-million fundraise in May from Tribe Capital in a Series C round that had led to Shiprocket's international foray. Shiprocket works with courier companies in India and connects merchants, consumers, and supply-chain partners across thousands of pin codes in India and around the world. 

Apart from shipping services, Shiprocket also offers a technology stack to assist retailers in integrating their online stores such as Shopify, Magento, WooCommerce, and Zoho for workflow, inventory, and order management. 

Earlier this month, Shiprocket also announced the opening of “fulfillment centers” in Bengaluru, Delhi, Gurugram, Kolkata, and Mumbai, offering end-to-end inventory management and fulfillment services. The company also has Bertelsmann India Investments and Innoven Capital as its investors. It had raised its seed round from angel investors 5Ideas Startup Superfuel and 500 Startups in 2013. A year later, it secured its Series A funding from Nirvana Venture Advisors, 500 Startups, and Beenos. 

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